BOC Aviation reports US$225m net profit in 2012

BOC Aviation’s net profit after tax for the financial year ended 31 December 2012 was US$225m, 12% higher than the previous record of US$201m achieved last year. The company has maintained consistent profitability since it was founded in November 1993. During 2012, BOC Aviation’s total assets increased by 20% to US$9.1bn from US$7.6bn, with US$614m in cash and more than US$2bn in unutilized committed credit facilities at the year end. During the year, BOC Aviation secured investment grade credit ratings from Fitch Ratings (A-) and Standard & Poor’s (BBB). BOC Aviation took delivery of 27 new aircraft, including five from purchase and leaseback transactions, and sold six aircraft. The company ended the year with a portfolio of 203 aircraft of which 177 were owned, two on finance lease, and 24 managed, in service with 56 airlines in 33 countries worldwide. Following a new order for 25 Airbus A320ceo and 25 A320neo family aircraft, BOC Aviation finished the year with an order book of 100 aircraft, and 26 aircraft on committed purchase and leaseback.